The Biden administration on Friday announced that it will extend the pause on federal student-loan repayment, interest, and collections until January 31, 2022.
The freeze had been set to expire at the end of September.
“The payment pause has been a lifeline that allowed millions of Americans to focus on their families, health, and finances instead of student loans during the national emergency,” U.S. secretary of education Miguel Cardona said in a statement. “As our nation’s economy continues to recover from a deep hole, this final extension will give students and borrowers the time they need to plan for restart and ensure a smooth pathway back to repayment. It is the Department’s priority to support students and borrowers during this transition and ensure they have the resources they need to access affordable, high quality higher education.”
The administration said it will be the final extension of the relief.
Source: National Review
